Freestanding Medical Office
For Sale
$339,500
11640 ZIMMERMAN ROAD, Port Richey, FL 34668
Move-in-ready office building with seven exam or office rooms, waiting area, three restrooms, and about 12 parking spaces.
Property Size1,728 SF
Price / SF$196.47
Days on Market83
Property Features for 11640 ZIMMERMAN ROAD
General Information
Standard status
Active
Size
1,728 SF
Total Parking Spaces
12
Property subtype
Mixed Use
Zoning
R-4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,354
Amenities
waiting room
breakroom
shower
Central Air
3
City Road, Asphalt.
Building Details
Year Built
1979
Listing Agency:
FUTURE HOME REALTY
(800) 921-1330
Listed By:
Dainellys Villacis
(786) 718-4002
Source:
Xome
Added: Jun 15
Changed: Sep 2
Last Checked: Sep 5 at 6:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FUTURE HOME REALTY
Investment Insights
Based on property information with market context.
Well-maintained, move-in-ready freestanding professional office/medical building offering 1,728± SF of functional interior space. The layout includes 7 treatment/exam rooms or office space, storage or administrative space, and a comfortable waiting room. The building also features three restrooms, including one with a full shower, along with a spacious breakroom with a full-size fridge and counter space.
Exterior and access are supported by an on-site parking lot with approximately 12 full-size parking spaces. The property is zoned R-4 and is described as being highly accessible, positioned about 0.3 miles from State Road 52 and minutes from US Highway 19.
The configuration is suited to a range of professional and medical service uses, with the property presented as a versatile option for organizations seeking a dedicated, purpose-designed office setting.
Exterior and access are supported by an on-site parking lot with approximately 12 full-size parking spaces. The property is zoned R-4 and is described as being highly accessible, positioned about 0.3 miles from State Road 52 and minutes from US Highway 19.
The configuration is suited to a range of professional and medical service uses, with the property presented as a versatile option for organizations seeking a dedicated, purpose-designed office setting.
Key Highlights
- 1,728± SF freestanding professional office/medical building built in 1979
- Layout includes 7 treatment/exam rooms or office space plus a waiting room
- Three restrooms, including one with a full shower
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,938
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,760
$318.8K
Cap Rate 7%
$227,686
$227.7K
Cap Rate 9%
$177,089
$177.1K
Market Conditions
NOI Build-Up for 1,728 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.0K $16.80/SF
− Vacancy
−$2.5K −$1.43/SF
EGI
$26.6K $15.37/SF
− OpEx
−$10.6K −$6.15/SF
NOI
$15.9K $9.22/SF
Area
Pasco County, FL
Vacancy
8.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$318,760
Cap Rate 7%
$227,686
Cap Rate 9%
$177,089
Alternative Uses
Best Use
Healthcare Medical
$227.7K
$199.2K – $265.6K
NOI $15,938 @ 7.0% cap · market cap 4.69%
Second Best
Office B
$166.6K
$145.8K – $194.4K
NOI $11,661 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$393.6K
$344.4K – $459.2K
NOI $27,554 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34668, FL
48,781
Population
23,883
Households
2
Avg Household Size
45
Median Age
13%
College-Educated
88%
High-School Grad
15.5 sq mi
ZIP Area
3,147
Density / Sq Mi
$45,760
Median Household Income
$35,610
Median Earnings
$1,278
Median Rent
$168,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Move-in-ready office building with seven exam or office rooms, waiting area, three restrooms, and about 12 parking spaces.
Where is this medical office space located?
The property is located at 11640 ZIMMERMAN ROAD Port Richey, FL.
What is the asking price?
The asking price for this property is $339,500.
What are key features of this property?
This property features: 1,728± SF freestanding professional office/medical building built in 1979; Layout includes 7 treatment/exam rooms or office space plus a waiting room; Three restrooms, including one with a full shower
